China Polymetallic closes in on HK IPO

08 Dec 2011

China Polymetallic Mining was planning to price its IPO late on Wednesday, and hoped to raise around HK$1.11bn ($142.8m), which it will use to buy and develop new mines on the mainland.

Bankers working on the deal expected it to price at HK$2.22, the bottom of its HK$2.22-HK$2.54 range. Bookbuilding for the 500m primary share deal, which represents 25% of the company's post-IPO capital, has partly relied on funds specialising in the energy sector to build demand, compensating for a risk-adverse ...

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